Here’s what’s new for the Risk-Free Reservations Programme
Now more than ever, guests need flexibility. A recent study revealed that in April 2020, 73 percent of customers cited free cancellation as their main reason for booking a property. The Risk-Free Reservations programme is designed to help properties attract more guests who prefer this flexibility. In the following article, we would like to update you on what’s new for the Risk-Free Reservations Programme.
Why is the Risk-Free Reservations programme important?
Risk-Free Reservations Programme enables accommodation providers to get bookings that they otherwise wouldn’t get, by offering extra flexibility in the cancellation policy to customers on their behalf. If the customer cancels, Booking.com will search for a replacement or take over the payment obligations of the cancellation cost for the partners to minimise their risk. Our data shows that the programme helps boost accommodation providers’ conversion on Booking.com by up to 3 percent.
What’s changed for the Risk-Free Reservations Programme?
When a risk-free booking is created, modified, or cancelled, we communicate the information via the Reservations API. We no longer hold the availability of a cancelled room. Instead, we release the room(s) immediately to your systems so that any potential guest can book the room on any channel. If the room is booked on another channel, Booking.com will stop searching for a replacement booking, and thus won’t be responsible for the payment obligations of this booking.
Get to grips with the Risk-Free Reservations Programme
To help you better understand Risk-Free Reservations, we have updated the Risk-Free Reservations article in our Connectivity Help Centre. This article will support your customer success team in their conversation with accommodation providers.
- Risk-Free Reservations Programme helps improve properties’ conversation rate on Booking.com by up to 3%.
- Based on inbound and feedback, we updated the product logic. Now we immediately release the cancelled room back to Connectivity Partners’ systems so that it can be booked on any other channels.
- Please share our updated Connectivity Partner Help Centre article with your customer success team to support their conversations with properties.